How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
Canada's Court of Appeal of Alberta affirmed trial judgment, dismissing LC Applicant's appeal and terminating short term interim injunction.
This is the first installment of FinCEN's guidance materials to assist the public in understanding beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA).
On 24 March 2023, the US Financial Crimes Enforcement Network (FinCEN) issued the first installment of its guidance materials to assist the public in understanding beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) that will enter into force on 1 January 2024.
The new regulations require many corporations and other entities created in, or registered to do business in, the United States to report to FinCEN information about the persons who ultimately own or control the company (their beneficial owners).
Educational materials now available on FinCEN’s beneficial ownership information reporting webpage include:
Additional guidance will be published in the coming months.
According to its news release, FinCEN will not be accepting any beneficial ownership information before 1 January 2024.
Five draft opinions – some garnering much more attention than others – were finalized in an ICC Banking Commission quarterly discussion session
Following the discussion of ICC Opinions on 2 July 2024, updates on other ICC Banking Commission projects were given. ICC
In an attempt to clarify aspects of UCP600 Article 10, the ICC Banking Commission has issued its 10th Technical Advisory
Upon request of its customer, Lummus Technology Heat Transfer B.V., Credit Agricole Corporate & Investment Bank issued a letter
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